Bigcommerce Holdings Inc ( (BIGC) ) has released its Q4 earnings. Here is a breakdown of the information Bigcommerce Holdings Inc presented to its investors.
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BigCommerce Holdings Inc., a leading provider of open, composable commerce solutions for both B2C and B2B markets, has announced its financial results for the fiscal year 2024, showcasing growth in revenue and strategic organizational changes.
For the fiscal year ending December 31, 2024, BigCommerce reported a total revenue of $332.9 million, marking an 8% increase compared to the previous year. The total annual revenue run-rate (ARR) stood at $349.6 million, which is up by 4% from the prior year. CEO Travis Hess highlighted the company’s focus on aligning its strategy and market presence to leverage BigCommerce’s full potential, indicating positive feedback and progress from recent transformations.
Key financial highlights include a fourth-quarter revenue of $87.0 million, a 3% increase from the same period in the previous year. The company’s ARR from enterprise accounts reached $261.6 million, a 7% rise, making up 75% of the total ARR. Despite a GAAP net loss of $2.4 million for the fourth quarter, BigCommerce achieved a non-GAAP net income of $8.4 million. The company also reported a significant improvement in adjusted EBITDA, which increased to $23.5 million from a negative $1.6 million in the previous year.
Strategic moves during the year included the appointment of new executives to strengthen leadership and the establishment of a global partnership with Klarna to enhance payment solutions for merchants. Additionally, BigCommerce successfully maintained platform stability with 100% uptime during Cyber Week, seeing a substantial increase in customers’ gross merchandise value.
Looking ahead, BigCommerce projects total revenue between $342.1 million and $350.1 million for the fiscal year 2025, with a focus on continuing to provide robust e-commerce solutions and expand market opportunities. The company remains committed to leveraging its platform capabilities to drive growth and innovation in the industry.
